Binance Controls 38% of All Crypto Exchange Volume, Followed by Bybit and MEXC

Binance was the market leader among centralized exchanges, with a 38.3% share of total spot trading volume in December 2025. Bybit was the second-largest centralized exchange by spot trading volume. It brought in $90.0 billion in volume, with a 9.5% market share. MEXC was the third-largest centralized exchange, with $86.0 billion in spot trading volume and a 9.1% market share. It was also the fastest-growing exchange in 2025, growing +90.9% YoY.

We talk a lot about decentralization, but many of us are still using CEXs for onramp/offramp. Which CEXs are you using? Or are you an outlier using a different method to convert fiat to crypto?

Source: https://www.coingecko.com/research/publications/centralized-crypto-exchanges-market-share